Gold Terra Announces Visible Mineralization in Hole CMUP-005 in Early Sonic Drilling at the Con Mine Historical Tailings, Yellowknife, NWT
Drilling and recovery testing have yet to establish how much gold the historical tailings contain or could yield.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Gold Terra (YGTFF) found visible gold in sonic drill hole CMUP-005 at the former Con Mine tailings. The gold appeared 25–26 metres downhole. Since drilling began on September 19, the company has completed 17 holes totaling 429 metres toward an approximately 7,000-metre program. The work is intended to establish the tailings’ tonnage and grade and support testing of potential gold recovery.
The tailings are part of the Con Mine Option property. Gold Terra has the right to acquire 100% of the property from a Newmont subsidiary if conditions in the purchase agreement are met; its option runs until November 21, 2027. Ore mined during Con Mine’s 1938–2003 operations graded 16–22 grams of gold per tonne, and historical recoveries were 85–95%. Those historical figures do not establish the grade or recoverable gold content of the tailings.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate point100% acquisition right gives Gold Terra an option on the Con Mine Option property through November 21, 2027.
- Minor pointVisible gold was found 25–26 metres downhole in sonic drill hole CMUP-005.
- Minor point17 holes totaling 429 metres have been completed in the tailings drilling program.
Negative
- Moderate pointProperty acquisition depends on fulfilling conditions in the purchase agreement.
- Minor point. Forward-looking: it has not happened yet and may not happen.Tailings tonnage and grade remain to be established by the drilling program.
- Minor point. Forward-looking: it has not happened yet and may not happen.Potential gold recovery remains to be assessed through metallurgical testing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
VANCOUVER, BC / ACCESS Newswire / September 29, 2026 / Gold Terra Resource Corp. (TSXV:YGT)(Frankfurt:TX0)(OTCQB:YGTFF) ("Gold Terra" or the "Company") is pleased to announce the discovery of visible gold in early sonic drill hole, CMUP-005, at a depth of 25-26 metres. The 7,000-metre program, which started on Sept 19th, is progressing well with 17 holes and 429 metres completed to date on the former Con Mine's historic tailings which is part of the Con Mine Option ("CMO"). Under the purchase agreement, the Company has the right to acquire
Chairman and CEO, Gerald Panneton, commented, "Drilling the historic tailings was always a viable target on the Con Mine Property. Gold Terra's strategy is to seek and add potential additional ounces to its mineral resources on the CMO. We expect to find gold in the historical tailings that could become a very accessible source of gold already crushed and grinded. But, to discover visible gold so early is not a surprise, as Con Mine operated without a gravity circuit until the 80's. Having a low-grade gold stockpile right at surface will provide access to an easier accessible ore stockpile to feed the future processing plant at a larger throughput and provide steady mill feed to the potential future re start of the operation."
Visible Gold Found in Sonic Drill Hole CMUP-005
Visible gold was found in Hole CMUP-005 at 25-26 metres downhole as shown in Photo 1 below. The discovery of visible gold in the tailings drilling is important as it confirms the Company's strategy and valuation of its gold content in residues post historical processing. The historical tailings represent a compelling exploration target as the material originated from mined ore graded between 16 to 22 g/t Au over the course of the Mine operation between 1938 and 2003*. There is a possibility of finding a certain amount of gold in the historical tailing since previous recoveries were between 85 to
Highlights of the Drilling Program
The program aims to test the historical TSF and its gold potential with a 40x40 metre grid as outlined in the Company's August 24, 2026 news release and shown in Figure 1 below. The total program will consist of approximately 7,000 metres of drilling and will consist of a strategic grid pattern to define areas of variable grade. Holes will be on average 10-30 metres deep. The sonic drilling is being carried out by 403 Drilling and ALS is doing the analyses on the tailings.
The objective of the drilling program is to evaluate the gold potential of the historic tailings as a potential source of additional gold ounces, complementing the Company's underground and near-surface exploration targets. The program is designed to establish the tonnage and grade of the tailings and support metallurgical testing to assess potential gold recovery.
Qualified Persons
The technical information contained in this news release has been reviewed and approved by Joseph Campbell, a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects and Senior Technical Advisor for the Company.
About Gold Terra
The Yellowknife Project (YP) encompasses 836 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade historical gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YP is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the Campbell Shear, where approximately 14 Moz of gold has been produced in the past, (refer to Gold Terra Oct 21, 2022, Technical Report) and most recently on the CMO property claims immediately south of the past producing Con Mine which produced 6.1 Moz between the Con, Rycon, and Campbell shear structures (1938-2003).
The YCG and CMO properties lie on the Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that hosts the former-producing high-grade Con and Giant gold mines. The Company's exploration programs have identified zones of gold mineralization and multiple potential targets that remain to be tested which reinforces the Company's objective of seeking to re-establish Yellowknife as one of the premier gold mining districts in Canada.
Visit our website at www.goldterracorp.com.
For more information, please contact:
Gerald Panneton, Chairman & CEO
gpanneton@goldterracorp.com
Mara Strazdins, Investor Relations
Phone: 1-778-897-1590 | 416-710-0646
strazdins@goldterracorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information Concerning Estimates of Mineral Resources
Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Therefore, investors are cautioned not to assume that all or any part of an Inferred Mineral Resource could ever be mined economically. It cannot be assumed that all or any part of "Measured Mineral Resources," "Indicated Mineral Resources," or "Inferred Mineral Resources" will ever be upgraded to a higher category. The Mineral Resource estimates contained herein may be subject to legal, political, environmental or other risks that could materially affect the potential development of such mineral resources. Refer to the Technical Report, once filed, for more information with respect to the key assumptions, parameters, methods and risks of determination associated with the foregoing.
Cautionary Note to United States Investors
The Company prepares its disclosure in accordance with the requirements of securities laws in effect in Canada, which differ from the requirements of U.S. securities laws. Terms relating to Mineral Resources in this news release are defined in accordance with NI 43-101 under the guidelines set out in CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the Canadian Institute of Mining, Metallurgy and Petroleum Council on May 19, 2014, as amended ("CIM Standards"). The U.S. Securities and Exchange Commission (the "SEC") has adopted amendments effective February 25, 2019 (the "SEC Modernization Rules") to its disclosure rules to modernize the mineral property disclosure requirements for issuers whose securities are registered with the SEC under the U.S. Securities Exchange Act of 1934. As a result of the adoption of the SEC Modernization Rules, the SEC will now recognize estimates of "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources", which are defined in substantially similar terms to the corresponding CIM Standards. In addition, the SEC has amended its definitions of "Proven Mineral Reserves" and "Probable Mineral Reserves" to be substantially similar to the corresponding CIM Standards.
U.S. investors are cautioned that while the foregoing terms are "substantially similar" to corresponding definitions under the CIM Standards, there are differences in the definitions under the SEC Modernization Rules and the CIM Standards. Accordingly, there is no assurance any Mineral Resources that the Company may report as "Measured Mineral Resources", "Indicated Mineral Resources" and "Inferred Mineral Resources" under NI 43-101 would be the same had the Company prepared the Mineral Resource estimates under the standards adopted under the SEC Modernization Rules. In accordance with Canadian securities laws, estimates of "Inferred Mineral Resources" cannot form the basis of feasibility or other economic studies, except in limited circumstances were permitted under NI 43-101.
Cautionary Note Regarding Forward-Looking Information
Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.
All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding the current drilling on the Campbell Shear, potentially adding ounces to the Company's current YP mineral resource, and the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.
There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and annual information form available under the Company's profile at www.sedar.com.
Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.
SOURCE: Gold Terra Resource Corp.
View the original press release on ACCESS Newswire
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Gold Terra find in Con Mine tailings drill hole CMUP-005?
Gold Terra found visible gold at a depth of 25–26 metres in sonic drill hole CMUP-005. The discovery does not establish the tailings’ grade or how much gold could be recovered.
How is Gold Terra testing the Con Mine historical tailings?
Gold Terra is using sonic drilling on a 40-by-40-metre grid, with holes averaging 10–30 metres deep. 403 Drilling is carrying out the drilling, and ALS is analyzing the tailings. The program is designed to establish tonnage and grade and support metallurgical testing of potential gold recovery.